Catella Investment Management Benelux (CIMB) and Catella Residential Investment Management (CRIM) have invested an undisclosed sum to buy two residential buildings in Amsterdam from Heitman.
Heitman acquired the Project Twin residential complex in Osdorp two years ago and has stabilised the assets, achieving full-occupancy, and implemented value-creation strategies. The two 11-storey buildings, Tower I and III, comprise 196 mid-range rental apartments spread over 20,000sqm.
The properties were purchased on behalf of an institutional mandate, managed by CRIM.
Ralph Willems, senior acquisition manager CIMB, said: “We are confident these two properties will command a high level of interest, in particular from young professionals and families, thanks to their attractive location and close proximity to one of the most appealing and prosperous cities in the country.”
Tony Smedley, head of European private equity Heitman, said: “Heitman’s vast market knowledge and deep history investing in Amsterdam real estate allowed for us to implement our business plan ahead of schedule and deliver an attractive outcome for our investors in a market currently experiencing strong demand dynamics accompanied by shallow supply.”
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